Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 37.5% | 39.1% | 36.5% | 32.1% | 30.2% | 31.9% | 33.3% | 32.5% |
| EBITDA margin % | 11.9% | 11.2% | 8.8% | 6.6% | 4.8% | 4.9% | 6.4% | 5.3% |
| EBIT margin % | 9.8% | 9.1% | 6.4% | 4.3% | 2.2% | 2% | 3.9% | 2.8% |
| PAT margin % | 7.5% | 8% | 5.7% | 3.7% | 3% | 2.6% | 4.2% | 3.2% |
| Working capital | ||||||||
| Receivable days | — | — | 23 | 24 | 23 | 17 | 22 | 33 |
| Inventory days | — | — | 124 | 109 | 120 | 98 | 91 | 102 |
| Payable days | — | — | 161 | 129 | 135 | 117 | 122 | 132 |
| NWC days | — | — | -14 | 4 | 8 | -2 | -9 | 3 |
| Leverage | ||||||||
| Current ratio | — | — | 2.09 | 1.98 | 1.96 | 2.17 | 2.01 | 1.91 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 69.9 | 33.9 | 30.4 | 21.8 | 20.7 | 10 | 11 | 9.4 |
| Asset turnover | — | — | 1.18 | 1.19 | 1.18 | 1.18 | 1.22 | 1.12 |
| Return ratios | ||||||||
| Return on assets % | — | — | 6.6% | 4.4% | 3.5% | 3.1% | 5.1% | 3.6% |
| Return on capital employed % | — | — | 14.9% | 9.9% | 7.7% | 7.8% | 11.9% | 9.4% |
| Return on equity % | — | — | 11.8% | 7.5% | 6% | 5.2% | 9% | 6.6% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.